United Breweries Limited Q3 FY26 results deck summary

Results deck of 10 Feb 2026, summarised by AI from the filing.

Q3 FY26 net sales rose 4% to ₹2,071 cr and profit after tax rose 111% to ₹81 cr, with gross margin up 222 bps.

Key takeaways

1. Q3 result Q3 FY26 net sales ₹2,071 cr (Q3 FY25: ₹1,998 cr, +4%) and profit after tax ₹81 cr (Q3 FY25: ₹38 cr, +111%).
2. Guidance No forward guidance was given; management remains optimistic about long-term beer category growth.
3. Change Gross margin expanded 222 bps to 45.3% in Q3 FY26, lifting EBIT 86%.
4. Driver Price mix, including price increases in Telangana, Rajasthan and Uttar Pradesh, drove net sales growth.
5. Risk A colder-than-usual winter impacted the beer category, with Q3 FY26 sell-in volume declining 1.3%.

Original filing on BSE

United Breweries Limited Q1 FY27 results

As filed: Revenue ₹5,919 cr (+10% year on year), EBITDA ₹283 cr (−9% year on year), PAT ₹166 cr (−10% year on year), EBITDA margin 4.8% (−101 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

• Q4 FY26: Revenue ₹4,408 cr (0% year on year), EBITDA ₹139 cr (−26% year on year), PAT ₹102 cr (−68% year on year), EBITDA margin 3.2% (−107 bps). Score 29 of 100, Below trend. Revenue growth was in line with the company's own trend; EBITDA growth was below it; profit before exceptional items growth was well below it. EBITDA margin fell 107 bps year on year. Tax rate 12%. Profit fell 72% from last quarter. Share price after the results: −7.1% in 30 days (Nifty 500: −1.4%).
• Q3 FY26: Revenue ₹3,937 cr (−11% year on year), EBITDA ₹226 cr (+60% year on year), PAT ₹81.2 cr (+74% year on year), EBITDA margin 5.7% (+255 bps). Score 46 of 100, In line with trend. Revenue growth was well below the company's own trend; EBITDA growth was above it; profit before exceptional items growth was in line with it. EBITDA margin rose 255 bps year on year. Tax rate 39%. Share price after the results: +11.2% in 28 days (Nifty 500: +3.0%).
• Q2 FY26: Revenue ₹3,737 cr (−21% year on year), EBITDA ₹130 cr (−43% year on year), PAT ₹46.0 cr (−65% year on year), EBITDA margin 3.5% (−131 bps). Score 15 of 100, Below trend. Revenue and EBITDA growth were well below the company's own trend; profit growth was below it. EBITDA margin fell 131 bps year on year. Revenue fell 31% from last quarter. Share price after the results: +3.1% in 29 days (Nifty 500: +2.0%).
• Q1 FY26: Revenue ₹5,381 cr (−7% year on year), EBITDA ₹311 cr (+9% year on year), PAT ₹184 cr (+6% year on year), EBITDA margin 5.8% (+86 bps). Score 30 of 100, Below trend. Revenue growth was well below the company's own trend; EBITDA and profit growth were below it. EBITDA margin rose 86 bps year on year. Share price after the results: −4.2% in 29 days (Nifty 500: −3.4%).
• Q4 FY25: Revenue ₹4,427 cr (−8% year on year), EBITDA ₹187 cr (+30% year on year), PAT ₹98.0 cr (+20% year on year), EBITDA margin 4.2% (+122 bps). Score 31 of 100, Below trend. Revenue growth was well below the company's own trend; EBITDA and profit growth were below it. EBITDA margin rose 122 bps year on year. Revenue rose ₹-362.0 cr on a year ago, against ₹708 cr the year before. Share price after the results: −8.5% in 30 days (Nifty 500: +3.5%).
• Q3 FY25: Revenue ₹4,427 cr (+7% year on year), EBITDA ₹141 cr (−3% year on year), PAT ₹39.0 cr (−26% year on year), EBITDA margin 3.2% (−33 bps). Score 21 of 100, Below trend. Revenue, EBITDA and profit before exceptional items growth were well below the company's own trend. EBITDA margin fell 33 bps year on year. Tax rate 38%. Revenue fell 7% from last quarter. Revenue rose ₹272 cr on a year ago, against ₹455 cr the year before.
• Q2 FY25: Revenue ₹4,744 cr (+13% year on year), EBITDA ₹227 cr (+23% year on year), PAT ₹132 cr (+23% year on year), EBITDA margin 4.8% (+40 bps). Score 62 of 100, In line with trend. EBITDA margin rose 40 bps year on year. Not enough history for a trend yet: scored on growth alone. Revenue fell 18% from last quarter.

Past price moves after results do not indicate future moves. Not a recommendation.

United Breweries Limited earnings call, investor presentation and press release summaries

• Q3 FY26: Results deck (10 Feb 2026)
• Q4 FY25: Results deck (7 May 2025)
• Other events: Investor presentation (29 Oct 2025), Investor presentation (22 Jul 2025)